Type
Merger/Acquisition
Country
Hungary
Region
Location of affected unit(s)
NA
Sector
Information / Communication
Information Communication Services
Telecommunications
61 - Telecommunications

200 jobs
Number of planned job losses
Job loss
Announcement Date
14 June 2007
Employment effect (start)
2 July 2007
Foreseen end date

Description

Hungarian Telephone and Cable Corp (HTCC), Hungary's largest telecommunications company, is to make 200 employees redundant. HTCC employs 1428 persons and the redundancies will affect about 14% of the workforce. The restructuring activity comes as a result of HTCC acquiring the telecommunications companies Invitel, Pantel and Hungarotel in April 2007. Full integration of the acquired companies is expected to be finished by early 2008. The redundancies are due to start taking place in July 2007 after consultations with trade unions.


Sources

  • 14 June 2007: IT.news

Citation

Eurofound (2007), Hungarian Telephone and Cable Corp (HTCC), Merger/Acquisition in Hungary, factsheet number 65629, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65629.